Listed as a “Rare & Stunning Bridge View 2 Bedroom at the Infinity” for $2.5 million two years ago, the 1,317-square-foot unit #23B at 301 Main Street sold for $2.4 million in March of 2015, establishing a building and neighborhood comp at $1,836 per square foot.

Three months ago the unit returned to the market listed for $1,995,000. And yesterday, 301 Main Street #23B resold for $1,900,000, establishing a new comp at closer to $1,443 per square foot.

While $1,443 per square foot certainly isn’t cheap, it is roughly 21 percent cheaper on an apples-to-apples basis versus the first quarter of 2015 for the bridge view two-bedroom at the Infinity.

Recent Articles

Comments from “Plugged-In” Readers

What, exactly, makes this unit “rare and stunning”? From what I can see, the finishes are still the builder’s choice and the unit shares the same view that units +/- five floors also share. And do those built-ins in the bedrooms function as closet space?

There is nothing rare about this unit, and it will increasingly become less rare as some of the towers are completed. The laminate IKEA-style “built-ins” are supposed to be inside a closet, behind closed doors, not hanging on a wall. For $1443 a square foot, one could get a VERY nice condo in one of the real neighborhoods in the City.

Everything about this is just non-sensical. $2.4M for a 1,300 sq ft apartment?! The layout isn’t even livable for a hotel room stay. For that money, you have no place for a dining table more than 4 in a corner. There is no place for a home entertainment center/tv. The bedrooms are beyond tiny w/ no closet space. I can only imagine what the HOA dues are. And then there’s losing 1/2 million on a 20 month investment, which doesn’t include realtor/closing fees. And let’s be honest, this seller is getting out ahead of what appears to be a much larger drop in luxury hi-rise condo market. To each their own but I can think of so much more one could do with $1.9M.

You’re paying for the unobstructed Bay Bridge views and location. The Hills Brothers building in front is historic so you will never lose the rare and stunning view. Besides, ever heard of the term “million-dollar view”? Well there you go!

I count 7 buildings blocking the view of the bridge and water in these pictures. Depending on one’s tax strategy, it’s really a $1.6M view, huh? But much of it carried over as a loss on several tax returns.

The Hills Brothers building, which I really like, obstructs the view of the Bay Bridge. This apt is on the 23rd floor, no? Up a few more floors and, voila, an unobstructed view! Up some more floors and it probably gets “stunning”, though the view of the HB building loses its impact as you end up looking down on it.

Originally the Seller for 23B asked us to list / sell the unit for as much as possible. So we tried our best and got $2.418 Million for it.

Then the recent sale the Seller’s decided to use another Broker. I had an interested buyer and he asked us to get the property for him for the minimum purchase price. We tried our best and it closed escrow today for $1.9 Million.

Similarity the original seller for 301 Main 5C hired us to list / market their property and to get the highest sale price possible. We tried really hard and were able to get a price of $2.3 Million for them. They were pleased. I have shown 5C 3 times in the last 7 days and am trying to sell it to one of my buyers, but havent found the right fit yet.

the market is the market. Glad you get commissions on the way up and the way down, but nothing you’ve said explains the overall dynamics of the market, and particularly why there has been such a huge swing in less than two years. One crazy buyer? Overall supply/demand balance issues? Anything?

The point that I think Paul Hwang is trying to make isn’t about why the price dropped, is that you have to hire Paul Hwang to sell if you want highest price, and you have to hire Paul Hwang to buy if you want the lowest price.

A common mistake people make is thinking that the real estate market is a spot market; by definition it is not. Different marketing strategies produce different results. I will let my work speak for itself.